Injection molding techniques are widely used for manufacturing plastic components. The automotive industry is the largest user of plastic molding products for over decades for the manufacturing of plastic components such as front & rear bumpers, dashboards, headlights, tail lights and other end modules. Plastic owing to its lightweight, high durability and ease of molding is the most favored material for the manufacturing of molded components for the automotive industry. Consumer goods industries ranging from household goods, personal care products, electronic devices, toys and packaging in food and beverage products are some of the few products that employs injection molding techniques for the manufacturing of finished products. Thus, with the increasing demand and growth in the automotive and consumer goods industry, the demand for injection molding materials is also set to increase during the forecast period from 2018 – 2025. Some of the key restraints of the market that is hampering its growth are related to plastic material used in mass production for packaging of personal hygiene products, leads to wrapage due to insufficient cooling as well as product durability.
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Asia Pacific is expected to hold a prime share in the injection molding materials market owing to the expansion of automotive and consumer goods industry in the region. Asia Pacific is the largest manufacturer of passenger cars in the World in the year 2017 as per Organisation Internationale des Constructeurs d’Automobiles (OICA). With the increasing production of passenger cars, the demand for plastic and metal molded components is also set to increase, thus, helping the market for injection molding materials to reach its zenith. Additionally, with the shifting of assembly plant of various electronic industry manufacturers from North America and Europe into Asia pacific, the demand for injection molding materialss is further getting augmented in the region. However, industries such as consumer goods, construction, healthcare as well as automotive is generating stable demand for injection molding materials in Europe and North America.
Some of the major players operating in the injection molding materials market are BASF S.E., Exxonn Mobil Corporation, Dowdupont Inc. and SABIC among others.
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